Episode 372: “What is the number 1 mistake that new entrepreneurs make when starting a business?”

Today’s episode was recorded on the beach in Jamaica at the Diamond Mastermind with Diamond members Filipe Goncalves and Ken Cannon who are business partners who live in Portugal and Maryland in the US, respectively. Filipe and Ken want to know what is the number one mistake that new entrepreneurs make when starting a new business.

I explain that the biggest mistake new entrepreneurs make is mistaking movement for action.

I talk about how new entrepreneurs get stuck in a learning mode; whereby they spend hours and hours purchasing new products and consuming knowledge, but they don’t spend time implementing that knowledge and practicing the skills it takes to bring in sales.

I discuss how much more valuable it is to take action – even when you make mistakes; because it’s those mistakes where you really learn how to fine tune your business and make it a success.